Small cap: Buy signal on Lumibird
Lumibird is a M€268 market cap and one of the world's leading laser specialists. With 50 years of experience and mastering solid-state laser, laser diode and fiber laser technologies, LUMIBIRD designs, manufactures and distributes high performance lasers for scientific (research laboratories and universities), industrial (production, defense / space, Lidar sensors) and medical (ophthalmology). The company expects to post a revenue of € 128M in 2020 coupled with a c.10% operating margin. Lumibird has a strong balance sheet with no debt.
The company managed to limit the decline in its activity to -10.6% in H1-2020, with revenues of € 46.2m. During the period marked by the COVID-19 epidemic, Lumibird continued to take orders, develop new projects and products, and on June 30, finalized the acquisition of the laser and ultrasound activities of Australian Ellex. Including this acquisition since January 1, pro forma sales as of June 30 amounted to € 65m (versus € 51.7m in H1-19).
Short term catalyst: M&A, distributors integration.
This signal looks mainly company specific.